Thelatestdatarevealsthetopcentralizedexchangesbyweeklytradingvolume.Thetotaltradingvolumeacrossallexchangesis$166.27billion.Binanceleadsthelistbyalargemarginwith$83.9billionintradingvolume.ThisshowsthatBinancecontinuestobethedominantplayerinthecryptomarket,accordingtoPhoenix,acryptomediaoutlet.
TOPCENTRALIZEDEXCHANGESBYWEEKLYTRADINGVOLUME
#Binance#Cryptocom#Bybit#OKX#Coinbase#GateIo#MEXC#Upbit#HTXpic.twitter.com/yeiHpTPI94—PHOENIX–CryptoNews&Analytics(@pnxgrp)October17,2024
Crypto.comSecures2ndPlacewith$27.5BinWeeklyTradingVolume,FollowingBinanceFromADistance
Crypto.comoccupiesthesecondplacewithassetsof$27.5billion.Thisisagoodperformancefortheexchange,meaningthatithasagoodnumberofitsusers.Bybitcomessecondwith$20.8billionandhasbecomeoneofthetopexchangesfortraders.However,ithasbeenabletoretainlargevolume,whichisanindicationofgrowth.
Moreover,OKXhasatradingvolumeof$12,200million.Itisstillamongtheleadingexchangesforthemarketwhichoffersaplethoraofservicesrelatedtocryptocurrencies.Coinbasecomessecondtoclosebehindwith$11.5billion.Coinbaseremainsthedominantmarketplayertothisdate.
Gate.iotakesthesixthpositionwith$10.6billionintheweeklyturnover.Thisistheexchangethatisstillattractiveforuserswhowanttodiversifyandhaverelativelylowtradingfees.ThelasttopexchangeinthelistbytradingvolumeisMEXCwith$1.61billion.Despiteithasfarfewertradingvolumecomparedtothetopfiveexchanges,MEXCstillhasanotableposition.
CryptoMarketReaches$166.27BWeeklyTradingVolumeasExchangesCompeteforUsers
Upbitshows$1.56billioninweeklytradingvolumeandranksbelowMEXC.Itiswidelyknowninsomemarkets,particularlytheSouthKoreanmarket.HTXcompletesthelistwith$1.57billioninweeklytradingturnover.HTXissmallasitmaybeintermsofthevolumeithandlesbutitisamongthebiggestexchangesintheworld.
Finally,Binanceretainsthedominanceithasbeenenjoyingthroughoutthisanalysiswithanaverageofover50%ofthetotaltradingvolume.PhoenixalsorevealsthatCrypto.com,Bybit,OKX,Coinbasedisplayssimilartrends.However,thedisparityofthevolumebetweentheleadingandtheleast-rankedexchangesdemonstratesasoundandexpandingmarketof$166.27billion.Theseplatformsarecloselycompetingwitheachotherwithmoremarketsharegrabbingbeingthemaingoal.
blockchainreporter.net